Calderon sprained his left ankle and Parker sprained his right ankle in the third quarter of Wednesday's 104-94 victory over the New York Knicks.
For Parker, who is averaging 11.6 points, this is the same injury that sidelined him for five games between February 28 and March 7.
Calderon is averaging nine points and five assists and Martin is averaging 3.2 points and 1.3 assists in 24 games.
The Raptors also said swingman Morris Peterson will start Friday for the first time since a 120-97 loss to Cleveland on March 3.
The Raptors (36-29) have won four in a row and nine of their past 10 home games.
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